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Garland Law Offices, P.A.
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“Pawn Stars” Richard Harrison has disinherited one of his sons.” The 77-year-old curmudgeon lovingly referred to as “Old Man” on the “Pawn Stars” television show died last month, due to complications from Parkinson’s disease. Richard Harrison reportedly disinherited one of his sons. news3lv.com’s recent article, “Pawn Stars' Richard 'Old Man'... Continue reading
Posted 2 days ago at Garland Law Offices, P.A.
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“Artwork, memorabilia, personal possessions and other ephemera from the collection of actor Robin Williams and his former wife Marsha will hit the auction block in October, with a portion of proceeds benefiting causes they supported, Sotheby’s said on Friday.” The “Creating a Stage” auction will take place in October at... Continue reading
Posted 3 days ago at Garland Law Offices, P.A.
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“A devastating medical diagnosis can leave you shocked and terrified, not to mention caught short with your financial plans.” Instead of giving into blind panic when receiving the news of a devastating medical diagnosis, CNBC’s recent article, “When end-of-life planning is suddenly a lot closer than you thought,” offers some... Continue reading
Posted 4 days ago at Garland Law Offices, P.A.
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“Taking care of an aging parent is full of challenges. Therefore, on first thought, opening a joint bank account with your mom or dad seems like a no-brainer. Dig deeper though, before you make such a move. For all the advantages, there are risks and complications.” Opening a joint bank... Continue reading
Posted 5 days ago at Garland Law Offices, P.A.
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“It's an exciting time! Your son or daughter has just graduated from college and will be now making their way in the world. They will be getting their first real job and Their first apartment, while rolling off your payroll. Or will they be doing those things?” The number of... Continue reading
Posted 6 days ago at Garland Law Offices, P.A.
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“Preserving and managing tangible wealth in a complex and uncertain world, can undoubtedly be a challenge.” The largest intergenerational wealth transfer in recent history will happen over the next few decades. As a result, legacy planning is becoming an increasingly significant topic of conversation. Legacy planning is a chance to... Continue reading
Posted Aug 10, 2018 at Garland Law Offices, P.A.
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“Without a plan in place, there could be a long-lasting impact on your loved ones, even if you don’t have a pricey home, large IRA or valuable art to pass on.” The average person spends more time planning a vacation or deciding what car to buy, than they do deciding... Continue reading
Posted Aug 9, 2018 at Garland Law Offices, P.A.
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“Legislation would establish a task force to examine challenges facing senior investors and recommend regulatory, statutory changes.” The House Financial Services Committee has voted to approve the creation of an interdivisional task force at the Securities and Exchange Commission to protect senior investors. Investment News recently published “House introduces bill... Continue reading
Posted Aug 8, 2018 at Garland Law Offices, P.A.
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“Here's a guide to understanding cost basis, after you receive inherited assets.” This year, New Jersey has eliminated the estate tax. For Class "A" beneficiaries, there’s no inheritance tax. Therefore, when Class "A" beneficiaries inherit their parents' residence and taxable accounts, is the inheritance at the stepped-up value, if it’s... Continue reading
Posted Aug 7, 2018 at Garland Law Offices, P.A.
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“Here are five common mistakes that people make when it comes to Medicare.” Medicare can help defray many healthcare costs. However, it's very complicated to navigate. One way to simplify this is to consult with a Medicare attorney, who can help you determine whether you’re eligible for program benefits. Investopedia’s... Continue reading
Posted Aug 6, 2018 at Garland Law Offices, P.A.
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“Lisa Marie Presley's ex-money manager paid himself an annual salary of more than $700,000 - while he was losing her $100 million fortune, Elvis's daughter claims.” The daughter of the King's former money manager gave himself a salary of more than $700,000, while he was losing her $100 million fortune,... Continue reading
Posted Aug 3, 2018 at Garland Law Offices, P.A.
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“Through hard-nosed determination and ruthless drive, Joe Jackson molded, trained and cajoled his brood into one of the greatest show business dynasties in history.” Joe Jackson, the Jackson patriarch who died of pancreatic cancer at the age of 89, was a coach, tutor, drill sergeant and manager, which left little... Continue reading
Posted Aug 2, 2018 at Garland Law Offices, P.A.
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“Retirees hoping to spend their golden years in an idyllic retirement community, should slow down before signing over their savings.” Continuing care retirement communities, or CCRCs, give retirees the ability to age in one spot, moving from independent living to assisted living and eventually skilled nursing care. These types of... Continue reading
Posted Aug 1, 2018 at Garland Law Offices, P.A.
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“Many never think about the possibility of dying without a will, but this is still a legitimate question to ask. When a person dies without leaving documentation of their wishes, or makes a will which is not legally valid, everything goes out the window.” The rules of intestacy govern how... Continue reading
Posted Jul 31, 2018 at Garland Law Offices, P.A.
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“The information on your 401(k) beneficiary form typically supersedes what is written in your will. Therefore, it's important to keep this form up to date for all your retirement and investment accounts.” You want to make sure your 401(k) savings gets to your intended heir. US News & World Report’s... Continue reading
Posted Jul 30, 2018 at Garland Law Offices, P.A.
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“Estate planning is an often-neglected part of financial planning, particularly among federal employees. “It’s for the rich” is an excuse I’ve heard people give for not taking the time to consider estate planning.” Many people, including federal employees, think estate planning is just for the well-to-do. FedSmith’s article, “Estate Planning... Continue reading
Posted Jul 27, 2018 at Garland Law Offices, P.A.
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“You’d be surprised that many people go about the planning process the wrong way. Instead, here are three key steps to help achieve a comprehensive retirement blueprint.” Many people only focus on what’s happening inside their portfolio at this very minute. A recent Kiplinger article asks, “Is Your Retirement Plan... Continue reading
Posted Jul 26, 2018 at Garland Law Offices, P.A.
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“According to palace insiders, Queen Elizabeth was adamant that the 36-year-old Duchess of Sussex sign a prenuptial agreement before she married Prince Harry, in order to protect his $500 million fortune.” People all over the globe watched the festivities as American actress Meghan Markle and Prince Harry said their “I... Continue reading
Posted Jul 25, 2018 at Garland Law Offices, P.A.
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“After discovering some elder abuse cases are difficult to prosecute, a southwest Virginia community is putting new emphasis on seeking justice for victims.” The National Council on Aging found that one in 10 Americans over the age of 60 has experienced some type of elder abuse. One southwest Virginia community... Continue reading
Posted Jul 24, 2018 at Garland Law Offices, P.A.
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“Here's what happens if a life insurance beneficiary doesn't want the money.” The contingent beneficiary receives the insurance proceeds of a life insurance policy, when there is a primary beneficiary and a contingent beneficiary, when the primary beneficiary predeceases. What if that beneficiary is alive, but refuses to collect the... Continue reading
Posted Jul 23, 2018 at Garland Law Offices, P.A.
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“A new study of retirement planning reaches a surprising conclusion.” Question: Which of these has the greatest effect on your retirement standard of living? Saving an additional 1% of your salary for the 30 years prior to retirement. Postponing your retirement by 3 to 4 months. MarketWatch’s recent article, “The... Continue reading
Posted Jul 20, 2018 at Garland Law Offices, P.A.
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“You still have enough time to significantly improve your retirement prospects, if you're willing to start taking serious steps now.” If you’re in your early 50s and have next to nothing saved for retirement, you're not alone. The Employee Benefit Research Institute found that more than a third of workers... Continue reading
Posted Jul 19, 2018 at Garland Law Offices, P.A.
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“Take steps to make sure you properly execute legal documents.” A durable power of attorney is a written document, whereby a person (“the principal”) can authorize or grant authority to another individual (or individuals, called the “agent” or the “attorney-in-fact”) to perform certain tasks on behalf of the principal, whether... Continue reading
Posted Jul 18, 2018 at Garland Law Offices, P.A.
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“Even in a world of uncertainty, taxes are inevitable. The good news is there are many ways to significantly reduce the amount of taxes you owe so, you can save more for retirement.” Investopedia’s recent article, “2 Ways to Reduce Taxes and Save More for Retirement,” provides two great ways... Continue reading
Posted Jul 17, 2018 at Garland Law Offices, P.A.
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“Premiums keep rising, but you may need a policy more than ever.” An effective way to safeguard your retirement savings from the high price of assisted living, in-home care or the cost of a stay in a nursing home is a long-term-care insurance policy. However, recent premium hikes have many... Continue reading
Posted Jul 16, 2018 at Garland Law Offices, P.A.